**OPERATING LEASE AGREEMENT** 

 This Operating Lease Agreement (“Agreement” or “Lease”) is made and entered into at Wichita, Kansas, as of the date of
its execution by the last of the parties hereto to execute the same, by and between RAYTHEON AIRCRAFT CREDIT CORPORATION, a Kansas corporation, with its principal place of business at 8300 East Thorn Drive, Suite 100, Wichita, Kansas 67226
(hereafter “Lessor”), and GREAT LAKES AVIATION, LTD., an Iowa corporation, with its principal place of business at 1022 Airport Parkway, Cheyenne, Wyoming 82001 (“Lessee”). 

 In consideration of the mutual promises, covenants and agreements set forth herein, Lessor and Lessee agree as follows: 

 ARTICLE 1: LEASE OF AIRCRAFT 

  




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| 1.1 | Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, one (1) used Beech (described as BEECH AIRCRAFT CORPORATION on the International Registry drop down menu)
Model 1900D Airliner aircraft manufactured by Raytheon Aircraft Company (hereafter “Manufacturer”), bearing manufacturer’s serial number              and United States
Registration number             , as further described in the Certificate of Final Acceptance, the form of which is attached hereto as Exhibit “B”.  |

  




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| 1.2 | All Exhibits referred to herein and attached hereto are by this reference incorporated as an integral part of this Lease, subject to the terms and conditions set forth herein.
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